Electricity prices to drop

ESB has welcomed the draft determination by CER that electricity prices are to drop by 6% from November 1st next. The new tariffs will see a reduction in costs to domestic customer of 5.4% while costs to business will drop by up to 10%.

The new prices coming into effect coincides with the beginning of the All Island Market. The price reduction is the first time in two decades that electricity prices have dropped.

ESB's 1.9million domestic customers will see savings of approximately €50 annually as a result of the proposed new tariffs.

The savings are largely due to a drop in international gas prices used in the generation of electricity